EU tightens grip on Russian LNG with conditional transshipment ban
As of 26 March, ports in European Union countries are restricted from providing transshipment services for liquefied natural gas (LNG) produced or exported from Russia, according to New Voice.
These sanctions were introduced in June 2024, but a grace period was granted until 26 March 2025 for contracts signed before 25 June 2024.
Additionally, providing technical support, brokerage services, financing, or financial assistance for LNG transshipment is also prohibited.
However, EU member state authorities may permit the transshipment of Russian LNG if it is necessary for transport to an EU country and will be used for its energy supply, Interfax-Ukraine reports.
The largest known transshipment contract was signed between Yamal LNG (part of NOVATEK) and the Belgian company Fluxys. The European terminal of Yamal LNG is used for transshipping LNG from ice-class gas carriers to conventional ones and for further supply to other markets, including Asia.
As a result, in 2024, Russia became the second-largest LNG supplier to the EU, generating approximately €7.3 billion in revenue from such deliveries.
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